U.S. Secretary of the Interior Ryan Zinke announced Thursday that Interior’s Office of Natural Resources Revenue (ONRR) disbursed $8.93 billion in Fiscal Year 2018 from energy production on federal and American Indian lands and offshore areas. That figure represents an increase of $1.82 billion over the previous year.
“President Trump’s energy dominance strategy is paying off and local communities across America are the beneficiaries,” said Zinke. “Trump Administration policies like reforming and reducing regulatory burdens and broadening access to the nation’s oil, gas and coal resources, have made America the largest oil and gas producer in the world. For a second year, energy disbursements are up, this year by $1.82 billion, for a total of $8.93 billion that will be shared with states and Tribes. This critical source of funding will be used for educational and infrastructure improvements and land and water conservation projects, and to create good-paying American jobs.”
Often the second-highest generator of federal income following taxes, energy revenue disbursements are a critical source of funding to states, American Indian Tribes and individual Indian mineral owners, as well as to the Land and Water Conservation Fund, Reclamation Fund, Historic Preservation Fund and the U.S. Treasury.
ONRR disbursed more than $1.78 billion of the FY 2018 energy revenues to 35 states as their cumulative share of revenues collected from oil, gas and mineral production on federal lands within their borders and from offshore oil and gas tracts in federal waters adjacent to their shores.